Invesco CurrencyShares Australian Dollar Trust reported its financial results for the three and nine months ended September 30, 2024, reflecting notable changes in income and profitability compared to the previous fiscal period. The Trust's total income for the third quarter of 2024 was $343,589, an increase from $290,832 in the same period of 2023. For the nine months ended September 30, 2024, total income rose to $1,045,985, up from $765,413 in 2023.
Net comprehensive income also showed significant growth, with the Trust reporting $273,134 for the third quarter of 2024, compared to $221,944 in 2023. For the nine-month period, net comprehensive income increased to $831,714 from $547,120 in the prior year. Basic and diluted earnings per share for the third quarter were $0.26, up from $0.21, and for the nine months, they rose to $0.76 from $0.50.
The Trust's total assets decreased to $68,778,137 as of September 30, 2024, from $77,798,717 at the end of 2023. Total liabilities also declined to $22,897 from $26,145. The value of redeemable capital shares at redemption decreased to $68,755,240 from $77,772,572 over the same period.
Cash flow from operating activities for the nine months ended September 30, 2024, was $845,094, compared to $507,707 in 2023. Distributions paid to shareholders increased to $844,165 from $504,292, reflecting a rise in distributions per share to $0.78 from $0.46 for the nine-month period. The Trust's cash balance at the end of the reporting period was $68,667,902, slightly up from $67,076,082 a year earlier.
The Trust's investment strategy remains focused on reflecting the price of the Australian Dollar in U.S. Dollars, with its assets primarily held in Australian Dollars on demand deposit. The interest rate for Australian Dollar principal deposits was reported at 1.92% annually as of September 30, 2024, contributing positively to net comprehensive income.
Market conditions during the reporting period were influenced by Federal Reserve easing expectations, geopolitical concerns, and fluctuations in the U.S. banking sector. The Australian Dollar showed positive performance against the U.S. Dollar in Q3 2024, benefiting from U.S. dollar weakness and steady rates maintained by the Reserve Bank of Australia.
The Trust's management confirmed the effectiveness of its disclosure controls and procedures, with no significant changes in internal control over financial reporting noted during the quarter.
About Invesco CurrencyShares Australian Dollar Trust
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